DeepSeek raises about $15 billion at a $74 billion pre-money valuation, one of China's largest private rounds

Chinese AI lab DeepSeek has raised about US$13.8B in its second private round, Bloomberg reported on 22 October, at a pre-money valuation of about US$68.8B (roughly $74 billion) and double its original US$6.88B target. CATL and Tencent are among the largest backers; Reuters reports more than 15 investors including Geely, Meituan, GigaDevice, Midea, NetEase, Boyu Capital, CPE, Legend Capital and IDG Capital, though terms could still change. The round follows a $7.4 billion first round in June, and the WSJ says DeepSeek is accelerating plans for a Shanghai listing early next year.